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Employment E ® ects of Stabilization Policies
| Content Provider | Semantic Scholar |
|---|---|
| Author | Ag, Pierre-Richard |
| Copyright Year | 1999 |
| Abstract | This paper studies the e®ects of a stabilization program based on a reduction in the devaluation rate in a macroeconomic model with capital controls, minimum wages for unskilled labor, an informal sector, and public production of intermediate inputs. Perfect mobililty across sectors of the unskilled labor force prevents the emergence of unemployment for that category of labor, but skilled unemployment prevails in equilibrium. The analysis highlights the role of turnover costs and quit behavior in assessing the e®ects of this shock. JEL Classi ̄cation Numbers: F41, J31, J64 ¤I am grateful to Joshua Aizenman, Peter Nunnenkamp, Miguel Savastano, and participants at a Macroeconomics workshop at Georgetown University and the Latin American Macroeconomics Network Seminar held in Bogot¶a, Colombia (Sept. 19-20, 1997) for very useful comments on a previous version. The views expressed in this paper are not to be interpreted as re°ecting those of the institutions with which I am a±liated. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www1.worldbank.org/wbiep/macro-program/agenor/pdfs/lm_employmenteffect_wp.pdf |
| Alternate Webpage(s) | https://personalpages.manchester.ac.uk/staff/pierre-richard.agenor/pdfs/lm_employmenteffect_wp.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
